Zacks Investment Research Lowers Graphic Packaging (NYSE:GPK) to Hold

Graphic Packaging (NYSE:GPK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Thursday, Zacks.com reports.

According to Zacks, “GRAPHIC PACKAGING CORPORATION, headquartered in Marietta, Georgia, is a leading provider of paperboard packaging solutions for a wide variety of products to food, beverage and other consumer products companies. Graphic Packaging’s customers include some of the most widely recognized companies in the world. “

GPK has been the topic of a number of other research reports. UBS Group boosted their price target on Graphic Packaging from $12.50 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. ValuEngine raised Graphic Packaging from a “sell” rating to a “hold” rating in a research report on Wednesday, April 24th. Citigroup boosted their price target on Graphic Packaging from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. KeyCorp restated a “hold” rating on shares of Graphic Packaging in a research note on Wednesday, April 24th. Finally, TheStreet upgraded Graphic Packaging from a “c+” rating to a “b-” rating in a research note on Monday, April 22nd. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Graphic Packaging has a consensus rating of “Hold” and a consensus target price of $16.00.

Shares of Graphic Packaging stock traded up $0.05 during trading on Thursday, reaching $12.80. 4,595,900 shares of the company were exchanged, compared to its average volume of 4,093,631. The business has a 50-day moving average price of $14.22 and a 200-day moving average price of $13.31. The company has a quick ratio of 0.70, a current ratio of 1.70 and a debt-to-equity ratio of 1.46. The firm has a market capitalization of $3.84 billion, a price-to-earnings ratio of 15.80, a P/E/G ratio of 1.18 and a beta of 1.34. Graphic Packaging has a twelve month low of $10.04 and a twelve month high of $15.58.

Graphic Packaging (NYSE:GPK) last issued its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02. The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.56 billion. Graphic Packaging had a return on equity of 12.94% and a net margin of 4.32%. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.18 earnings per share. On average, equities research analysts forecast that Graphic Packaging will post 0.85 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of GPK. Zacks Investment Management grew its position in shares of Graphic Packaging by 119.2% during the 2nd quarter. Zacks Investment Management now owns 111,175 shares of the industrial products company’s stock valued at $1,554,000 after purchasing an additional 60,461 shares in the last quarter. Pictet Asset Management Ltd. lifted its stake in Graphic Packaging by 54.7% in the second quarter. Pictet Asset Management Ltd. now owns 1,588,213 shares of the industrial products company’s stock worth $22,203,000 after purchasing an additional 561,438 shares during the last quarter. Green Square Asset Management LLC bought a new stake in Graphic Packaging in the second quarter worth $308,000. Nuveen Asset Management LLC bought a new stake in Graphic Packaging in the second quarter worth $15,844,000. Finally, OneAscent Financial Services LLC purchased a new position in shares of Graphic Packaging in the second quarter valued at about $205,000.

About Graphic Packaging

Graphic Packaging Holding Company, together with its subsidiaries, provides paper-based packaging solutions to food, beverage, foodservice, and other consumer products companies. It operates through three segments: Paperboard Mills, Americas Paperboard Packaging, and Europe Paperboard Packaging. The company offers coated unbleached kraft (CUK), coated recycled paperboard (CRB), and solid bleached sulfate paperboard (SBS) to various paperboard packaging converters and brokers; and paperboard packaging folding cartons and cups, lids, and food containers primarily to consumer packaged goods, quick-service restaurants, and foodservice companies.

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